US stock market hits record high amid hopes for Strait of Hormuz reopening

Oil prices fall as US officials tout progress in talks to reopen critical waterway.

The Dow Jones Industrial Average hit a record high again Tuesday as oil prices dropped amid hopes that the Strait of Hormuz could soon reopen.

Canada’s main stock index and its U.S. counterparts rallied Tuesday as investors pushed aside some of their concerns about a frothy tech market and became cautiously optimistic the Strait of Hormuz could soon reopen.

Treasury Secretary Scott Bessent said the U.S. is in talks with Iran and a deal to reopen the Strait of Hormuz could come within days

Optimism echoes Trump’s claims on Monday that deal is close as mediators say they are exchanging proposals Middle East crisis live – latest updates US and Qatari officials have said progress is being made in restoring a ceasefire in the US-Iran war and reopening the strait of Hormuz. The optimistic speculation on Tu

Disruption in the Strait of Hormuz has exposed the vulnerability of global trade to a single maritime chokepoint, with early data showing sharp falls in exports of energy, fertilizers and industrial products.

Oil Falls Amid Prospects for Reopening of Strait of Hormuz  WSJ